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PECO Aerospace Fasteners
Summary of Employee Benefits for Plan Year
October 1, 2009 – September 30, 2010

• Health Insurance: Health insurance is provided through Providence Health Plan of Oregon. 

• Dental Insurance: Dental insurance is provided through Guardian Insurance Company for employees and their dependents. PECO pays 100% of the premium for employees and dependents.

• Vision:  Beginning the first of the month following 30 days of employment employees may choose vision insurance provided by Guardian Vision.  The company pays 25% of the premium for employees and dependents; employee contribution ranges from $2.79 for the employee only to $7.56 for a full family per pay period.
  
  
• Life Insurance and Accidental Death: Life Insurance and AD&D insurance are provided through Regence.  PECO Aerospace Fasteners pays 100% of the premium for the following coverage:
  • Employee Life Insurance: 2 ½ times the employee’s annual salary, up to $200,000.
  • Employee AD&D: 2 ½ times the employee’s annual salary, up to $200,000.
  • Dependent Life Insurance:
    Spouse = $5,000
    Child age 14 days to 6 months = $100
    Child age 6 months to 21 years = $2,000
    
    
• Disability Insurance: Short-term and long-term disability insurance is provided through Regence.  PECO Aerospace Fasteners pays 100% of the premium for the following coverage:
  • Short-term Disability: If disabled the employee will receive 66 2/3 percent of base earnings up to a maximum of $1,000.00 per week. Eligibility begins after 30 days of disability and continues through 180 days from date of disability.
  • Long-term Disability: If disabled, 66 2/3 percent of the first $10,000 of base monthly earnings, payable to age 65. Eligibility begins after 180 days of disability.
    
    
• PECO Aerospace Fasteners 401(k): Beginning the first of the month following 30 days of employment, employees are able to contribute a portion of their pre-tax salary into a 401(k) retirement savings plan.  PECO will match 100% of the employees first 5% salary deferral (maximum employer contribution is 5% of salary).  PECO employer contributions are subject to the following vesting schedule:  20% after 1 year of employment; 40% after 2 years of employment; 60% after 3 years; 80% after 4 years and 100% after five years of employment.  The employee is 100% vested in his/her salary deferrals. 
  
  
• Paid Time Off:  Full-time employees will accrue paid time off at the following annual rates:

• Holidays:   PECO Aerospace Fasteners provides eleven paid holidays each calendar year.